South African Rand Rises Vs U.S. Dollar As the ANC’s Zuma Fires

The South African Rand rose against the US dollar in the European session on Tuesday to quit as South Africa’s ruling African National Congress, formally ordered President Jacob Zuma’s office, amid allegations of corruption.

To the ANC’s executive committee meeting in Pretoria, the party officials to remind, Zuma decided, and gave him 48 hours to step down.

If Zuma refuses the order, he would be excluded by a parliamentary vote of no confidence scheduled for next week.

The rand rose to 11.87 against the greenback, compared to Monday’s value of 11.93 closed. If the edge continues to rise, 10: 00 a.m. may be seen as its next resistance.